safest way to save on benefits without affecting claims

karens_freebies

My friend is in a similar position and has opened a funeral prepayment plan .Just a thought

gbhxu

Finding it difficult too. £6000 may be large enough for people on the basic UC , but not those of us getting top whack UC, TP and PIP!

Thinking on restarting pension contributions and getting an over 50s insurance policy to get rid of ia but.bit

Also got a new laptop because my desktop isn't Windows 11 compatible

Just had house insurance renewal and got rid of a bit more.

If I was to reach £16000 in savings, I worked out I'd need to invest somewhere that pays an interest rate of over 80% and pay interest monthly!

itsthelittlethings

https://forums.moneysavingexpert.com/discussion/comment/81909915#Comment_81909915

Don’t bother then.

born_again

TBH.

To literally take the thread title as posted. There is no safe way. As limits are limits. Any avoidance would be considered fraud.

All you can do is as "Viv" Nicholson used to say. Even then you will get to the point where you want for nothing more & may just flag up for a check.

no_real_names_please

https://forums.moneysavingexpert.com/discussion/comment/81860976#Comment_81860976

That's not a given considering the DWP are utterly fraudulent or incompetent themselves from what I've seen and the comments from parliamentary inquiries.The link itself is for the benefit of the state not the people. For example it doesn't explain why and what the £16000 limit is and why the state should deprive someone of their savings .

Unless people are trying to claim unemployment benefit while working or pretending they are sick while being perfectly healthy then saying it's fraud is defamatory. At best they should say it's a grey area because they don't know what situation that person is in. They could also mention what circumstances the DWP might try it on and stop benefits or claim it's fraud and how.

itsthelittlethings

https://forums.moneysavingexpert.com/discussion/comment/81914149#Comment_81914149

It is fraud to say you have less savings than you do to claim benefits you’re not entitled to.

sheramber

https://forums.moneysavingexpert.com/discussion/comment/81914149#Comment_81914149

Why should the taxpayer , through government benefits, pay benefits to someone who has savings they can use.

The government do not have a magic money tree. The money that pay out comes from taxes paid in.

Archerychick

https://forums.moneysavingexpert.com/discussion/comment/81914149#Comment_81914149

The rules are the rules. May I suggest writing to your MP to advocate a review of the current rules.

born_again

https://forums.moneysavingexpert.com/discussion/comment/81914149#Comment_81914149

Straying a bit into policy there.

But how clear does the statement on £16K need to be

https://www.gov.uk/universal-credit/eligibility

• have £16,000 or less in money, savings and investments

No need to explain anything more.

GaleSF63

Why not let your savings build up and declare to DWP. That way, you have more savings which you never know, you might need at some point, and you are only losing £17.40 per thousand, which goes back to the taxpayer, instead of losing all of it above £6000 if you spend it on something you don't really want to. You win, they win.

There are thousands of charities from hedgehogs to war-zone assistance.